The American legal industry is a highly fragmented industry characterized by thousands of law firms working and competing to perform legal work for business clients across the country. In recent years, the competition for this work has stiffened as large corporate clients have sought cost savings by reducing the numbers of law firms they employ. Moreover, an apparent trend of law-firm consolidation and increased numbers of partner-level defections from one firm to another have further heightened the general level of competition among firms.
One problem the current inventor has recognized in the legal industry is that most if not all law firms lack sufficient business data to fully comprehend the competitive nature of the markets they serve. Accordingly, the inventor has identified a need to provide market intelligence data that law firm executives and managers can use to make better business decisions.